NIKE (NYSE:NKE) Price Target Lowered to $73.00 at UBS Group

NIKE (NYSE:NKE) had its price target lowered by UBS Group from $80.00 to $73.00 in a report released on Friday,Benzinga reports. The brokerage currently has a neutral rating on the footwear maker’s stock.

Several other brokerages also recently commented on NKE. Guggenheim reduced their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Piper Sandler restated a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. JPMorgan Chase & Co. dropped their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $84.00 price target on shares of NIKE in a research note on Friday. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $89.77.

NIKE Stock Performance

Shares of NKE stock opened at $76.94 on Friday. The company has a fifty day moving average price of $78.07 and a two-hundred day moving average price of $80.65. NIKE has a one year low of $70.75 and a one year high of $123.30. The stock has a market cap of $115.36 billion, a P/E ratio of 22.05, a P/E/G ratio of 1.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the business posted $1.03 EPS. As a group, equities analysts predict that NIKE will post 2.72 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.08%. NIKE’s dividend payout ratio (DPR) is presently 45.85%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Loomis Sayles & Co. L P raised its position in NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after buying an additional 6,507,856 shares during the last quarter. State Street Corp raised its holdings in shares of NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Holocene Advisors LP purchased a new stake in shares of NIKE in the third quarter valued at about $148,635,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of NIKE during the third quarter valued at about $144,927,000. Finally, Renaissance Technologies LLC grew its position in NIKE by 351.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after purchasing an additional 1,550,611 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.